TIER REIT Inc (NYSE:TIER) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Stockholders of record on Thursday, March 15th will be paid a dividend of 0.18 per share by the real estate investment trust on Thursday, March 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Wednesday, March 14th.
TIER REIT has a dividend payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Analysts expect TIER REIT to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 47.1%.
Shares of TIER REIT (TIER) opened at $19.09 on Tuesday. The company has a market cap of $915.72, a price-to-earnings ratio of 12.28 and a beta of 0.78. TIER REIT has a 52-week low of $15.96 and a 52-week high of $20.72.
TIER has been the topic of several recent analyst reports. Cantor Fitzgerald set a $22.00 price objective on shares of TIER REIT and gave the company a “buy” rating in a research report on Tuesday, March 6th. BMO Capital Markets set a $21.00 price objective on shares of TIER REIT and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Zacks Investment Research upgraded shares of TIER REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. TIER REIT has a consensus rating of “Hold” and an average price target of $21.33.
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TIER REIT Company Profile
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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